RE: funding16 Feb 2019 20:29
I’ve No idea about the fda or the product itself and do find the info being talked about interesting but most goes over my head so it’s not why I’ve bought in to the share.
On the share price side imo I can see $5 / 20p back before long once the II have stopped selling at the pace they have been, the rise to 15p was stomped on by II reloading the order book with sells (they were what alot of what the A trades were) level 2 at the point of the 15p trade had very few shares available to buy before it would have hit 16p after 16p the next line showing for me was 32p - very strange and I didnt believe that there was no sell orders set inbetween 16-32p but it could have been correct as the order book was cleared out by the Valentine’s Day drop, anyone with a previous buy order had their orders filled on the cheap, anyone will a stop loss got bitten, and any sell orders before the drop are still sat waiting set in the 40s, it will take a while to rebuild the order book at the lower end but it will get there, if the II continue to sell it might even help the sp rise, that’s if they do it a bit more structured, ie not just dumping 10% on an open sell order, but instead feeding shares gradually in to a rise, this gives buyers shares to actually buy and helps fill the order book at all prices.
Also I noticed the Warrants went from $3.85 to 25c, they were up nearly 50% to 44c yesterday, tiny volume but it’s another way to play.
Obviously the repeated mention of a fund raise is something to be aware of, but with the cash mentioned in the rns I cannot see this being done until there is a better understanding of where the company is going and where the product currently stands.
I Look forward to next week and expect it to rise prior to meetings with FDA if a date is announced beforehand.
Good luck.
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